EMSD.L vs. ISDE.L
EMSD.L (State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF USD (Acc)) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - EMSD.L tracks the MSCI Emerging Markets Small Cap Index while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 10 years, EMSD.L returned 8.49%/yr vs 11.20%/yr for ISDE.L. Their correlation of 0.83 suggests significant overlap in exposure. EMSD.L charges 0.55%/yr vs 0.85%/yr for ISDE.L.
Performance
EMSD.L vs. ISDE.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMSD.L achieves a 9.38% return, which is significantly lower than ISDE.L's 43.83% return. Over the past 10 years, EMSD.L has underperformed ISDE.L with an annualized return of 8.49%, while ISDE.L has yielded a comparatively higher 11.20% annualized return.
EMSD.L
- 1D
- -0.45%
- 1M
- -6.67%
- 6M
- 6.50%
- YTD
- 9.38%
- 1Y
- 15.90%
- 3Y*
- 13.08%
- 5Y*
- 6.12%
- 10Y*
- 8.49%
ISDE.L
- 1D
- -1.28%
- 1M
- -11.07%
- 6M
- 34.89%
- YTD
- 43.83%
- 1Y
- 74.17%
- 3Y*
- 25.27%
- 5Y*
- 10.84%
- 10Y*
- 11.20%
EMSD.L vs. ISDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMSD.L State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF USD (Acc) | 9.38% | 20.23% | 2.90% | 22.19% | -16.88% | 16.02% | 20.35% | 8.52% | -14.77% | 30.78% |
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 43.83% | 39.00% | -3.54% | 14.04% | -22.75% | 2.66% | 22.18% | 19.37% | -17.23% | 41.70% |
Correlation
The correlation between EMSD.L and ISDE.L is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 16, 2011 | 0.83 |
The correlation between EMSD.L and ISDE.L has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMSD.L vs. ISDE.L — Risk / Return Rank
EMSD.L
ISDE.L
EMSD.L vs. ISDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF USD (Acc) (EMSD.L) and iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMSD.L | ISDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.44 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 4.75 | -3.32 |
| Martin ratioReturn relative to average drawdown | 4.41 | 15.21 | -10.80 |
Loading charts...
Drawdowns
EMSD.L vs. ISDE.L - Drawdown Comparison
The maximum EMSD.L drawdown since its inception was -48.91%, smaller than the maximum ISDE.L drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for EMSD.L and ISDE.L.
Loading charts...
Drawdown Indicators
| EMSD.L | ISDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.91% | -65.53% | +16.62% |
Max Drawdown (1Y)Largest decline over 1 year | -11.45% | -15.54% | +4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -21.39% | -21.83% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -27.40% | -32.16% | +4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -48.91% | -36.64% | -12.27% |
Current DrawdownCurrent decline from peak | -6.81% | -15.25% | +8.44% |
Average DrawdownAverage peak-to-trough decline | -11.04% | -22.77% | +11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 4.86% | -1.14% |
Volatility
EMSD.L vs. ISDE.L - Volatility Comparison
The current volatility for State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF USD (Acc) (EMSD.L) is 7.45%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 14.62%. This indicates that EMSD.L experiences smaller price fluctuations and is considered to be less risky than ISDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMSD.L | ISDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.45% | 14.62% | -7.17% |
Volatility (6M)Calculated over the trailing 6-month period | 17.71% | 27.67% | -9.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.70% | 29.71% | -10.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 20.58% | -3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.63% | 20.34% | -2.71% |
EMSD.L vs. ISDE.L - Expense Ratio Comparison
EMSD.L has a 0.55% expense ratio, which is lower than ISDE.L's 0.85% expense ratio.
Dividends
EMSD.L vs. ISDE.L - Dividend Comparison
EMSD.L has not paid dividends to shareholders, while ISDE.L's dividend yield for the trailing twelve months is around 1.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMSD.L State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 1.20% | 1.06% | 2.51% | 2.77% | 2.10% | 1.79% | 0.98% | 1.55% | 1.64% | 1.02% | 1.07% | 2.32% |
Frequently Asked Questions
EMSD.L and ISDE.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMSD.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMSD.L is cheaper with a 0.55% expense ratio, compared with 0.85% for ISDE.L.
EMSD.L tracks MSCI Emerging Markets Small Cap Index, while ISDE.L tracks MSCI Emerging Markets Islamic Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.55% for EMSD.L and 0.85% for ISDE.L.
Find the right allocation for EMSD.L and ISDE.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer